Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 19-Aug-21
BHP’s proposal to scrap its dual-listed structure has had a lukewarm reaction from Australian investors, with its local shares falling by seven per cent on 18 August. In contrast, BHP’s London-listed shares rose by four per cent in response to the proposal. Don Hamson of Plato Investment Management says this indicates that the Australian-listed shares’ traditional premium is being erased. BHP CEO Mike Henry contends that shifting to a primary listing in Australia will make the resources giant more efficient and agile. Activist hedge fund Elliott Management has previously pushed for the dual-listed structure to be abolished.
BHP GROUP LIMITED – ASX BHP, PLATO INVESTMENT MANAGEMENT LIMITED, ELLIOTT MANAGEMENT CORPORATION